Cadence Capital Management LLC lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 70.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,840 shares of the company’s stock after selling 4,285 shares during the period. Cadence Capital Management LLC’s holdings in Snap-on were worth $338,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. raised its position in shares of Snap-on by 2.0% during the second quarter. Baird Financial Group Inc. now owns 53,715 shares of the company’s stock valued at $8,630,000 after buying an additional 1,046 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Snap-on by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 59,533 shares of the company’s stock valued at $9,567,000 after buying an additional 1,334 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Snap-on by 2.6% during the second quarter. Cooke & Bieler LP now owns 733,798 shares of the company’s stock valued at $117,936,000 after buying an additional 18,878 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Snap-on by 7.1% during the second quarter. Schroder Investment Management Group now owns 497,887 shares of the company’s stock valued at $80,657,000 after buying an additional 32,839 shares during the last quarter. Finally, BB&T Corp raised its position in shares of Snap-on by 400.3% during the second quarter. BB&T Corp now owns 38,897 shares of the company’s stock valued at $6,251,000 after buying an additional 31,123 shares during the last quarter.

NYSE SNA opened at $159.91 on Wednesday. The stock has a market capitalization of $9.07 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.32 and a beta of 1.29. Snap-on Incorporated has a twelve month low of $141.63 and a twelve month high of $189.46. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.30.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 18th. The company reported $2.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.02. The business had revenue of $898.10 million for the quarter, compared to analysts’ expectations of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 earnings per share. As a group, research analysts anticipate that Snap-on Incorporated will post 11.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 20th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $3.80 dividend on an annualized basis and a yield of 2.38%. This is a boost from Snap-on’s previous quarterly dividend of $0.82. Snap-on’s payout ratio is presently 32.41%.

SNA has been the subject of a number of research analyst reports. Barrington Research reaffirmed a “buy” rating and set a $200.00 price objective on shares of Snap-on in a research report on Monday, August 20th. Zacks Investment Research raised shares of Snap-on from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research note on Thursday, October 4th. Robert W. Baird lowered their target price on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Northcoast Research cut shares of Snap-on from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 24th. Finally, B. Riley set a $205.00 target price on shares of Snap-on and gave the company a “buy” rating in a research note on Tuesday, July 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $195.40.

In related news, SVP Aldo John Pagliari sold 6,480 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total value of $1,152,727.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

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Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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